World’s Luxury Guide Eyes Riches of Indian Politicians.

I ran into Axel Springer A G in following a “story” on “billions of dollars” belonging to Sonia Gandhi. It turned out to be a case of circular reliance, where A relies on B, B points to C and D as its sources, and C and D use A and some long ago forgotten Z to vouch for their stories. Far more interesting was the pedigree of some of the actors involved
^^Schweizer Illustrierte is owned by Ringier A G, reputedly one of the largest media corporations in Switzerland with several newspapers and magazines, in French and in German, published from it stable. With an yearly revenue of CHF 1.5 billion and profits of 62.2 million, it a corporation of not inconsiderable means. The magazine, Schweizer Illustrierte, has a circulation of some 878,000, again not insignificant….Wikipedia says of Business Insider, The site provides and analyzes business news and acts as an aggregator of top news stories from around the web, each with an “edgy” commentary. Its original works are sometimes cited by other, larger, publications such as The New York Times….The World’s Luxury Guide is published by German newspaper Die Welt about which Britannica has this to say, “one of the most influential in Germany and the only one of national scope and stature published in Bonn during that city’s time as West German capital“. Die Welt is owned by Axel Springer media group that describes itself as Europe’s leading multimedia company^^.

I imagined that interest of these media houses in India’s “rich” politicians was an “episodic” fancy. But it seems I am wrong. World’s Luxury Guide seems to be viscerally interested in the “riches” of Indian politicians. Economic Times only today broke the news that Enforcement Directorate is probing the companies owned by a brother of former chief minister of Uttar Pradesh, current member of parliament, and supremo of Bahujan Samaj Party, Ms. Mayawati: Deals worth Rs 760 crore involving Mayawati’s brother under scrutiny. Surprise of surprise, Google search put the “World’s Luxury Guide [WLG]” right there in the 4th position at top.
Bigger surprise awaits one on the site of World’s Luxury Guide., where it highlights latest news concerning Ms. Mayawati.
However, Ms. Mayawati is not alone. The same page has links to other prominent politicians, whose “riches” are in the news recently or have been in the past, such as Nitin Gadkari, and of course the prima donna of Indian political establishment, Mrs. Sonia Gandhi.
A natural question that comes to mind is why a “guide” interested in “luxury” be so overwhelmed by the “riches” of Indian politicians. The question in fact is its own answer. The world economy has been hit by “longest recession” for past 5 years, and developed world including most of the rest are still struggling to grow their economies. Yet, the world’s 100 richest added in 2012 more than 14.50% to their net worth, or a whopping US$ 241 billion, to take it to a staggering US$ 1.9 trillion. When riches of rich grows at such staggering rates, their appetite for luxury goods is bound to keep pace. The growth rates in the “riches” of Indian politicians may turn even the world’s richest green with envy. Wouldn’t the appetites of Indian politicians for luxury be more voracious too? Does it explain the somewhat obsessive interest of a World’s Guide to Luxury in the abnormal riches of Indian Politicians?
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